Islamic Finance

One year and a half after Morocco officially introduced a comprehensive regulatory framework for Islamic finance, or what it calls “participation banking,” the north African country goes a step further and is now in the process of officially embracing Islamic insurance, or takaful. This is seen as a big step …

The Registration Authority of Abu Dhabi Global Market, ADGM, and the Casablanca Finance City Authority, CFCA, have signed a Memorandum of Understanding, MoU, to foster closer collaboration among the UAE, Morocco and Africa and jointly promote the development of financial services in the respective markets. The MoU was signed by …

Morocco’s bank lending rose 3.22 percent in 2018 to 870 billion dirhams ($91.6 billion), according to Bank al-Maghrib (BAM). Currently, bank lending accounts for about 79 percent of the country’s GDP. These loans accounted for 30.7 percent of real estate loans, which rose by 3.65 percent in 2018 to reach …

Morocco’s participatory bank officials are looking forward to 2019 with much hope to bring Takaful insurance into existence to allow for a full start to the products proposed by Islamic finance and thus attract more customers. After achieving modest results a year and a half after the launch of participatory …

The Islamic Development Bank (IsDB) will hold its meetings of the Boards of Governors and General Assemblies on April 5 and 6, 2019 in Marrakesh. For two days, there will be several strategic meetings of the group: * The 44th Annual Meeting of the Board of Governors of the Islamic …

Moroccan households are “more pessimistic” about their future ability to save over the next 12 months, according to a survey by the High Commissioner for Planning (HCP). Indeed, only 18.5% against 81.5% of households expect to save in the next 12 months, says the HCP in an information note recounting …

The year is starting well for The Kingdom in terms of economic attractiveness. Forbes has just published the ranking of the best countries to invest in 2019 and Morocco holds an honorable position at the African level. Our country is in third position of African countries after respectively, Mauritius (39th …

The government is intensifying efforts to integrate the top 50 best economies in the world in terms of the quality of the business climate by 2021, by engaging in structural reforms in favor of Moroccan business, said the head of government Sâad Eddine El Othmani. In response to a question …

Morocco’s participatory bank officials are looking forward to 2019 with much hope to bring Takaful insurance into existence to allow for a full start to the products proposed by Islamic finance and thus attract more customers. After achieving modest results a year and a half after the launch of participatory …

Achieving an impressive 9-place jump in the Doing Business 2019 rankings, Morocco, with its 60th position out of the 190 countries covered by this report, continues its steady march towards emergence while confirming the effectiveness of the reforms undertaken during in recent years. In the 2019 edition of this benchmark …